Latest New Jersey sports betting report shows signs of New York effect

Latest New Jersey sports betting report shows signs of New York effect

Article brief provided by Legal Sports Report
  • Matthew Waters, Legal Sports Report
September 20, 2022 10:55 PM
  • Matthew Waters, Legal Sports Report

The impact of mobile sports betting in New York might be showing in monthly NJ sports betting reports.

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New Jersey sportsbooks reported $546.8 million in handle for August, down 17.7% from last year. Revenue hit $65.3 million, for $8.3 million paid in taxes, according to the monthly report released Friday.

August marked the fourth consecutive month of year-over-year handle declines for NJ. That has only happened once before: March 2020 through June 2020, when almost all major sports were shut down because of the Covid-19 pandemic.

Mobile New York sportsbooks, meanwhile, are doing a brisk business. The nine operators brought in $872.2 million in August, or 59.5% higher than New Jersey.